Consorcio de Transportes de Bizkaia Outlook To Positive On Owners' Improved Credit Quality - 2007/06/15 - S&P Credit Research

Report title: Consorcio de Transportes de Bizkaia Outlook To Positive On Owners' Improved Credit Quality

from S&P Credit Research
775 word report published Jun 15, 2007

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Abstract:

MADRID (Standard&Poor's) June 15, 2007--Standard&Poor's Ratings Services said today that it has revised its outlook to positive from stable on Consorcio de Transportes de Bizkaia (CTB), the Spanish city of Bilbao's public-transport authority. At the same time, the 'AA-' long-term and 'A-1+' short-term issuer credit ratings were affirmed. "The outlook revision primarily reflects the recent improvement in the credit quality of CTB's government owners, the Autonomous Community of the Basque Country, now rated AAA/Stable/--, and the Historical Territory of Bizkaia, now rated AA/Positive/A-1+," said Standard&Poor's credit analyst Lorenzo Pareja. The ratings reflect CTB's continued strong financial support from its government owners. They are constrained, however, by the institution's large debt burden (€345 million at

Brief Excerpt:

RESEARCH Ratings Definitions Consorcio de Transportes de Bizkaia Outlook To Positive On Owners' Improved Credit Quality Publication date: 15-Jun-2007 MADRID (Standard & Poor's) June 15, 2007--Standard & Poor's Ratings Services said today...

Report Type:

Ratings Action

Ticker:

1235Z@SM

Issuer:

Consorcio de Transportes de Bizkaia

GICS:

Railroads (20304010)

Sector:

Global Issuers, International Public Finance, Transportation

Country:

Spain

Region:

Europe, Middle East, Africa

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S&P Credit Research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

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